it’m not yet been finalized, “but there is no indication that there is an even hope cent are, “said a VW board member of the German Press Agency.
analysts had expected last still on average at just 1.50 euros per share. A VW Group spokesman said on request only: “. We will comment on April 28 as part of our annual press conference on details of our financial results”
EXCHANGE LOSSES ON THE STOCK MARKET
The market punished Europe largest carmaker from Tuesday. Against the trend in Dax and in the European car industry gave the VW preference shares in the morning by nearly 1.5 percent.
The second largest VW shareholder Lower looks with concern but no panic to a possible loss in the dividend of the car manufacturer. “There would be no direct impact on the state budget”, said the State Chancellery on request. The country holds every fifth VW ordinary shares to which the voting rights and thus the influence in the group depend. A year ago, Niedersachsen had pocketed 285 million euros dividend. Also in the record years before the cornucopia was always well stocked.
LOWER LEFT
For 2014, the Group paid for each VW ordinary shares 4.80 euros, for each preferred share 4.86 euros Dividend. Overall, Volkswagen showered last around EUR 2.3 billion of its profits to shareholders. The largest shareholder is the Porsche SE, which is controlled by the Porsche and Piëch families. Besides Lower Saxony and the State Fund of Qatar holds a big share package.
Lower Saxony state-owned investment company HanBG in which the majority of the VW-ownership is that dividends parked last. Therefore, preparing a dividend failure, possibly even a total failure, the country no headaches. Already adopted projects were “fully funded,” for the following years by the previous dividend payments. The country also has investments in other companies, including the steel producer Salzgitter or Landesbank NordLB.
AMOUNT OF PUNITIVE DECISIVE
The State emphasized Lower Saxony is Volkswagen a “strategic investor, the is interested in a long term and stable business and employment development “. One in five of the world’s 600 000. Consolidated jobs between resin and North Sea Coast. The country depends on VW.
The German Press Agency learned from a reliable source that a pay freeze is likely in the VW-dividend or at least can not be ruled out. The most important factor is the question of how high the Group estimated the financial risk of the gas crisis in the United States in its annual accounts in late April. Although market experts still hold about one-third of the previous dividend of just five euros for possible what would be about 1.50 euros per share.
THE MIDDLE OF SERIOUS CRISIS
Among the possible stresses in the US said a VW supervisory board: “Probably would be a value between 20 and closer to 30 billion euros. And then it will be very tight for the dividend. “The group would need in this case a lot of money to pay the penalties and the current fiscal to fund further.
Volkswagen currently is in the midst of a serious crisis. The carmaker hidden in world eleven million diesel car software, tricking the emission tests by the authorities. In real mode, the car blowing multiples of harmful gases in the air. Volkswagen led customers and supervisors by the nose. It is not clear yet whether the Board had the scandal earlier can end.
FOLLOW DRAMATICALLY
The consequences are dramatic. Among other things, the United States sued VW. It threatens penalties in the mid double-digit billion range – equivalent to the earnings power of the VW Group for several years
In the VW board could be argued about the amount of the dividend entirely: employee representatives and the state should primarily obtaining. jobs at VW in view have – the representatives of the capital side might a stronger interest in return and thus have on the distribution of a dividend. Spokesmen for both sides wanted to request not comment on that.
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